Property Overview

This bi-level home at 1862 Elgin Avenue W in Winnipeg's Brooklands neighbourhood presents a distinct profile. Its key appeal lies in being a modern, low-maintenance property within a community of mostly older homes. Built in 2016, it is significantly newer than most houses on its street and in the broader area, suggesting updated building systems and less immediate need for major repairs. The home features a renovated basement and a detached garage on a standard city lot. While the living space is practical at 1,055 sqft, the property’s standout characteristic is its assessed value of $350k, which ranks in the top 5% for the Brooklands area. This indicates it is viewed as a premium property within its immediate context, likely due to its newness and condition.

The property would suit first-time buyers or downsizers seeking a modern, move-in-ready home without the upkeep of a century-old house. It also appeals to value-conscious investors or owners looking for a property that stands out in the neighbourhood, potentially offering stronger relative value retention compared to older surrounding homes. A less obvious perspective is that its high assessment relative to the area could mean higher property taxes, but also reflects a perceived stability and quality that might appeal to a buyer prioritizing a worry-free structure in an established community.

Frequently Asked Questions

1. Why is the assessed value so high compared to the neighbourhood average?
The assessed value reflects the property's relative newness (built in 2016) and condition compared to the typical, much older homes in Brooklands. It is evaluated as a premium, modern asset within its local market context.

2. What does "bi-level" mean for this home?
A bi-level typically features a main living area entered from ground level, with a short flight of stairs leading up to bedrooms and another leading down to a lower living space. This home's lower level is confirmed as renovated, adding to its functional living area.

3. How does the lot size compare to others?
At 2,599 sqft, the land area is slightly below average for Elgin Avenue W but is a standard residential lot for the city. It provides adequate outdoor space without extensive maintenance demands.

4. The home sold for $26,900 in 2016. What does that indicate?
That sale likely represents the initial purchase of the newly built home from the developer or builder, not a resale. The current price and assessed value reflect the market value of the completed property today.

5. Who might this property not suit?
Buyers seeking a very large lot, extensive square footage, or a historic character home may find it less suitable. Its strengths are modern convenience and efficient use of space rather than grandeur or vintage charm.